The cryptocurrency market update: Bitcoin bulls get ready to smash $10,000

Cryptocurrency market switched to the recovery mode during European hours on Monday. Bitcoin and all major altcoins are navigating the green territory as the sentiments are improving rapidly amid increased geopolitical tension and Argentinian foreign currency crisis. The total market capitalization edged to $254 billion, while an average daily trading volume stayed increased to $44 billion; Bitcoin's market dominance is registered at $69.5%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands at $9,947, with 3% gains on a day-on-day basis. The first digital asset came close to critical $10,000; however, this barrier remains unbroken so far. A sustainable move above $10,000 will improve the technical picture significantly, though, bulls may have a hard time pushing the price higher.

Ethereum, the second-largest digital asset with the current market capitalization of $18.6 billion. ETH/USD is changing hands at $173.40. The coin managed to settle above $173.00 handle after a short period of consolidation in $170.—$171.00 range. ETH/USD has gained 1.5% on a day-on-day basis.

Ripple's XRP is also creeping higher; however the coin cannot escape the narrow range limited by $0.2500 on the downside and $0.2600 on the upside. The third-largest coin with the current market value of $11.1 billion has gained 1/1% on a day-on-day basis, though the upside momentum seems to be limited.

Read also: Foreign currency crisis in Argentina might have triggered Bitcoin growth

The biggest altcoin market-movers

Ethereum Classic (ETC) is the best-performing coin with over 7% of gains on a day-on-day basis. ETC/USD is changing hands at $6.66. Monero is also doing well with 5% of gains. XMR/USD has settled above $71.00.

Read also: Monero price analysis: XMR/USD retreats from recent high, still above $70.00